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What: Shares of specialty chemical maker W.R. Grace & Co.
So what: In the second quarter, revenue rose 21% to $826 million, and adjusted earnings per share of $1.11 beat estimates of $0.89 from Wall Street. For the full year, W.R. Grace expects revenue between $3 billion and $3.25 billion, an increase from its previous forecast.
Now what: Emerging markets drove most of the improvement this quarter with the U.S. market growing only slightly. The company is still in bankruptcy and asked a judge last month to approve the company's exit. I would like the company to be clear of that burden before jumping in, but the improving results are certainly encouraging.
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